South Korea GDP Growth Rate

The South Korean economy shrank 0.3 percent quarter-on-quarter in the three months to March 2019, after a 1.0 percent expansion in the previous three months and missing market expectations of 0.3 percent growth, advanced data showed. It was the first contraction in five quarters and the steepest since the last quarter of 2008, as utilities and manufacturing contracted sharply and construction shrank for the third time in over the last four quarters. GDP Growth Rate in South Korea averaged 1.78 percent from 1960 until 2019, reaching an all time high of 7.80 percent in the fourth quarter of 1970 and a record low of -7 percent in the first quarter of 1998.

GDP Growth Rate in South Korea is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in South Korea to stand at 1.20 in 12 months time. In the long-term, the South Korea GDP Growth Rate is projected to trend around 1.00 percent in 2020, according to our econometric models.

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South Korea Economy Unexpectedly Shrinks in Q1

The South Korean economy shrank 0.3 percent quarter-on-quarter in the three months to March 2019, after a 1.0 percent expansion in the previous three months and missing market expectations of 0.3 percent growth, advanced data showed. It was the first contraction in five quarters and the steepest since the last quarter of 2008, as utilities and manufacturing contracted sharply and construction shrank for the third time in over the last four quarters.

On an annual basis, the economy advanced 1.8 percent year-on-year, decelerating from a 3.1 percent growth in the previous quarter and well below market forecasts of a 2.5 percent expansion, advanced data showed. It was the weakest growth rate since the third quarter of 2009.

South Korea GDP Growth Confirmed at 1% in Q4
The South Korean economy advanced 1.0 percent quarter-on-quarter in the three months to December 2018, up from a 0.6 percent expansion in the previous three months and matching a preliminary estimate and market expectations, final data showed. It was the strongest growth rate since the first quarter of the year, mainly boosted by final consumption and gross fixed capital formation.Published on 2019-03-05

South Korea GDP Grows 1% QoQ and Beats Expectations
The South Korean economy advanced 1.0 percent quarter-on-quarter in the three months to December 2018, up from 0.6 percent in the previous three months and market expectations, advanced data showed. Published on 2019-01-22

South Korea Q3 GDP Growth Confirmed at 0.6% QoQ
The South Korean economy advanced 0.6 percent quarter-on-quarter in the three months to September 2018, the same pace as in the previous period and matching market consensus and the preliminary reading, final data showed.Published on 2018-12-04

South Korea GDP Expands 0.6% QoQ in Q3
The South Korean economy advanced 0.6 percent quarter-on-quarter in the three months to September 2018, the same pace as in the previous period and slightly below market expectations of 0.7 percent, advanced data showed. Published on 2018-10-25

South Korea GDP Growth Rate

South Korea has an export oriented economy and is the world's leading producer of displays and memory semiconductors and the second largest producer of ships. Services account for the highest percentage of GDP (around 57 percent of GDP). Within services the most important ones are public administration (6 percent ); education (5.3 percent); information and communication (5 percent); and business activities (4.6 percent of GDP). A strong manufacturing industry which has turned South Korea into a major exporter accounts for 32 percent of GDP. This page provides - South Korea GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2019.